Universal Electronics (NASDAQ:UEIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Universal Electronics (NASDAQ:UEIC) from a hold rating to a buy rating in a research note released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Universal Electronics in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $5.75.

Universal Electronics Trading Up 2.6%

UEIC opened at $4.36 on Friday. The stock has a market cap of $56.07 million, a price-to-earnings ratio of -3.11 and a beta of 1.38. Universal Electronics has a 1 year low of $2.69 and a 1 year high of $7.50. The stock has a fifty day moving average price of $3.99 and a 200 day moving average price of $3.89.

Institutional Investors Weigh In On Universal Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its position in Universal Electronics by 62.7% during the first quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock worth $199,000 after buying an additional 12,526 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Universal Electronics by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock worth $222,000 after buying an additional 4,893 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Universal Electronics by 8.4% during the 1st quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock worth $299,000 after acquiring an additional 3,802 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Universal Electronics during the 2nd quarter valued at about $82,000. Finally, Kent Lake PR LLC increased its holdings in shares of Universal Electronics by 17.2% during the 2nd quarter. Kent Lake PR LLC now owns 1,260,642 shares of the technology company’s stock valued at $8,345,000 after acquiring an additional 185,014 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc (NASDAQ:UEIC) is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.